NEW YORK, Oct. 20, 2016 /PRNewswire/ -- The test and measurement equipment market is expected to reach USD 35.45 billion by 2022, at a CAGR of 6.8% between 2016 and 2022. The major driving factors for the test and measurement equipment market are the rising demand for electronics products that is giving rise to the need for testing and measurement equipment, increased investments in R&D, technological advancement in networking and communication sector, and increased manufacturing activity in developing countries.
Calibration services to hold the largest market share by 2022.
Calibration services are expected to hold the largest market share by 2022. The calibration of the test and measurement equipment is vital for precision, quality assurance, and compliance of quality standards required in production, maintenance, and servicing. Calibration helps increase the operational life of the equipment.
"APAC to be the fastest-growing market during the forecast period"
Key countries in APAC are Japan, China, India, Taiwan, and others. The APAC region is home to a number of OEMs as well as semiconductor device and product manufacturers. Moreover, favorable regulatory policies for the approval of new semiconductor technologies and the saturation of the market in developed countries are further intensifying the interest of foreign players in expanding in Asia-Pacific.
In the process of determining and verifying the market size for several segments and subsegments gathered through the secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below:
- By Company Type: Tier 1%–20 %, Tier 2%–35% and Tier 3%–45%
- By Designation: C level – 80%, Director-level – 20%
- By Region: North America – 50%, Europe – 30%, APAC – 10%, RoW – 10%
The report also profiles major players in the test and measurement equipment market—Tektronix, Inc. (U.S.), Rohde & Schwarz (Germany), Fluke Corporation (U.S.), Anritsu Corporation (Japan), Agilent Technologies (U.S.), Yokogawa Electric Corporation (Japan), National Instruments (U.S.), Texas Instruments, Inc. (U.S.), Keysight Technologies (U.S.), EXFO Inc. (Canada), Advantest Corporation (Japan), Vaivi Solutions, Inc. (US), and Texas Instruments Inc. (U.S.) among others.
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